Review on USD Coin by Gabriel Medina
USD Coin is a useful cryptocurrency
USD Coin (USDC) aims to prioritize the development of an efficient mechanism for conducting financial operations. It is a dollar-backed token based on an open source stable source framework developed by Center (a partnership made up of Coinbase and Circle). The use of USD Coin will make international operations much easier and faster than with traditional fiat money.
It is not a cryptocurrency that can be mined, it only works with the exchange, purchase or sale of digital currencies.
Thanks to Coinbase, you can store your USDC with the Coinbase Wallet. However, there are other options that we can count on when making transactions with virtual currency. Among the alternatives, the following stand out:
USD Coin is undoubtedly one of the most useful cryptocurrencies in the world. This ERC20 token created by the Center Consortium, has performed functions that have facilitated international financial transactions taking advantage of USDC.
Pros
- The speed of fund transfers is surprisingly fast.
- People who want to obtain USD Coin will receive the best assistance and will be able to transfer dollars in just a few seconds worldwide.
- Its future prospects and trajectory have made users more and more interested.
- Anyone can make their deposits of dollars that they have stored in their bank accounts and convert them into tokens.
- All USDC tokens are regulated, transparent, and fully verifiable.
Cons
- Tokenization process could take two business days.
- The User Agreement establishes that the issuer can freeze user funds of this cryptoasset temporarily or permanently according to its “sole discretion”.
